EXCO Resources, Inc. Announces Results of Rights Offering

DALLAS--()--EXCO Resources, Inc. (NYSE:XCO) (“EXCO” or the “Company”) today announced the preliminary results of its previously announced $273 million rights offering and related transactions under exercise commitment agreements with certain shareholders of the Company (the “Investment Agreements”).

Of the approximately 54.5 million total shares of common stock expected to be issued, EXCO believes that approximately 28.2 million shares will be issued in the rights offering and approximately 19.6 million shares and 6.7 million shares will be issued to affiliates of WL Ross & Co. LLC and affiliates of Hamblin Watsa Investment Counsel Ltd., respectively, under their respective Investment Agreements. After giving effect to the rights offering and the Investment Agreements, EXCO expects to have 272,820,969 shares of common stock outstanding. The rights offering and the related transactions under the Investment Agreements are expected to close on Friday, January 17, 2014.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any offer, solicitation or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of the securities under the securities laws of such state or jurisdiction.

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in Texas, North Louisiana and Appalachia.

Additional information about EXCO may be obtained by contacting Chris Peracchi, Director of Finance and Investor Relations and Treasurer, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

This release may contain forward-looking statements relating to future financial results, business expectations and business transactions. There can be no assurance that this transaction will proceed as described in this release. Actual results may differ materially from those predicted as a result of factors over which EXCO has no control. Such factors include, but are not limited to: the completion of the rights offering and transactions contemplated thereby, the estimates of reserves, commodity price changes, regulatory changes and general economic conditions. These risk factors are included in the Company’s final prospectus included as a part of the registration statement, and additional information and risk factors are included in EXCO’s reports on file with the Commission. Except as required by applicable law, EXCO undertakes no obligation to publicly update or revise any forward-looking statements.

Contacts

EXCO
Chris Peracchi, 214-368-2084
Director of Finance and Investor Relations and Treasurer
www.excoresources.com

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Contacts

EXCO
Chris Peracchi, 214-368-2084
Director of Finance and Investor Relations and Treasurer
www.excoresources.com